Shikhar Insurance reserve fund rises from Rs 8.81 cr to Rs 40.79 cr in Q3; Profit hikes by staggering 71%
Tue, May 10, 2016 12:42 PM on Latest, Financial Analysis, Featured, Stock Market,
Shikhar Insurance Company Limited (SICL) has reported a profit growth of 71 percent in the third quarter of the current fiscal year 2072/73.
According to the unaudited financial report for the third quarter the non-life insurance has published today, its net profit increases to Rs. 20.72 crore in third quarter as compared to Rs.12.12 crore in the corresponding quarter of the last fiscal year 2071/72.
The company’s net earnings from premium has risen to Rs 72.71 crore in Q3 from Rs. 48.96 crore in the same quarter last year.
The insurance company has paid up capital of Rs 50.98 crore.
The most encouraging aspect of Shikhar’s financial report for the third quarter is that its reserve fund has reached to Rs 40.79 crore, up from Rs. 8.81 crore in the previous fiscal year. The reserve fund of the company increased by 363.03%.
Their policy holder has drastically increased to 1.59 lakh in Q3 from 1.10 lakh reported in the same period of last year.
Shikhar Insurance had recently floated 5, 10,988 unit shares to general public as FPO at Rs 650 and maintained its EPS (annualized) at Rs. 59.
The company maintains its ongoing risk as reserve fund increase by 47 percent which indicates company's risk bearing strength. It has increased its total insurance fees by 33 percent leading directly to company’s profit.
Its P/E ratio is at 30 times and net worth per share at Rs. 262.
The company’s net earnings from premium has risen to Rs 72.71 crore in Q3 from Rs. 48.96 crore in the same quarter last year.
The insurance company has paid up capital of Rs 50.98 crore.
The most encouraging aspect of Shikhar’s financial report for the third quarter is that its reserve fund has reached to Rs 40.79 crore, up from Rs. 8.81 crore in the previous fiscal year. The reserve fund of the company increased by 363.03%.
Their policy holder has drastically increased to 1.59 lakh in Q3 from 1.10 lakh reported in the same period of last year.
Shikhar Insurance had recently floated 5, 10,988 unit shares to general public as FPO at Rs 650 and maintained its EPS (annualized) at Rs. 59.
The company maintains its ongoing risk as reserve fund increase by 47 percent which indicates company's risk bearing strength. It has increased its total insurance fees by 33 percent leading directly to company’s profit.
Its P/E ratio is at 30 times and net worth per share at Rs. 262.
